• Former FTX president Brett Harrison has announced his new project Architect has raised $5 million from investors.
• Backers include Coinbase Ventures, Circle Ventures and SV Angel among others.
• Architect is buildig new institutional-grade trading technology.
Former FTX president Brett Harrison has raised $5 million in a seed round funding for his new crypto project, Architect, a Decentralised Finance (DeFi) venture. Harrison announced the news on Friday, revealing the investment had come from some of the top venture investors in the crypto space, including Coinbase Ventures and Circle Ventures.
The new platform is aimed at institutional investors and has been in stealth development since last September. Other investors that have backed the project are SALT Fund, Third King Venture Capital, Motivate Venture Capital and SV Angel. SkyBridge Capital’s Antony Scaramucci has also invested in the new crypto software project.
The goal of Architect is to provide institutional-grade trading technology. Harrison believes that Architect will fill a gap in the crypto markets, allowing for streamlined and efficient trading. By using a combination of machine learning and advanced algorithms, Architect will be able to quickly identify and execute trading opportunities for its investors.
Architect will also provide investors with access to a range of tools and services designed to help them make more informed decisions. This includes access to market data, analytics, and order management tools. Additionally, it will offer a range of risk management tools, such as portfolio diversification and risk analysis.
The new platform will also feature an integrated portfolio management system, allowing investors to easily manage their investments. This will be done via an intuitive user interface, making it easier to track and manage investments.
Harrison is confident that Architect will be able to revolutionise the way institutional investors trade in the crypto markets. With its combination of advanced technology and risk management tools, Harrison believes that Architect will provide investors with an edge in their trading decisions. With the $5 million investment, Harrison is now looking to further develop the platform and bring it to market.